Litecoin Manifests Long Target of $62 USD
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ore consolidation, again. What is big money waiting on? What do they know that we don’t? Is the ETF thing about to finally happen? Or fail? I certainly don’t know, but the charts are indeed hinting at a huge breakout, either to the upside or downside. Every morning I wake up I expect to see a big price splash, in either direction…yet nothing seems to have happened the past two weeks. Maybe the Google machine can provide some direct?
Nope; news today includes:
The IMF issues “stark warning” that the rapid growth of bitcoin could create financial system vulnerabilities
Bitcoin is an extraordinary scarce commodity
Bitcoin could grind to $6800 USD before breaking out
Juniper Research states that Bitcoin is a bubble that “could” burst in near future
CNBC Analyst predicts that Bitcoin is about to explode due to ETF buzz
Are you still confused? Me too. I’m glad I’m not the only one who doesn’t know what is going on with the pricing of this space. I’m just upset I don’t get paid 6 figures a year to make statements without having any accountability. Good thing I have those 21 Litecoins to fall back on, and that this includes:
Random thoughts for entertainment purposes on cryptocurrency short term prices. This post is purely for entertainment value alone, and is not intended to represent or constitute financial advice. I DO own a position in all of these coins. Always provide your own due diligence and risk management in respect to investments.
Charts are updated below; I think Bitcoin has a shot at touching the upper trendline at around $6800 USD. Ethereum looks to possible touch $240 USD, Bitcoin Cash hits $550 USD, and Litecoin at $62 USD. I'm not a CNBC or Juniper Research analyst, however, so I really no nothing.
That’s it for today; good luck and good fortune to us all. I continue to HODL.
The indicators used in my charts also confirm that a high volatility is ahead. We just don't know which direction ;)
yeah, I see that too - my gut is telling me big money is getting in while the getting is good...but my gut also has beer in it, so I'm probably wrong!
LOL, must be the world-famous "Sagesigma Beer"-indicator?
I am rather bearish in the mid-term, but I would not be surprised about a short-lived bullish run, before going to lower lows. I can't imagine that we will see a new hype like past year anytime soon. But lower prices would provide a good entry for the big money, so in the long-term it won't be that bad.
I like it! I should start plotting # of beers consumed /sentiment vs. actual price % change on a scatter plot. Could be worth a subscription service.
Do you think that ETF is going to happen this year?
Possible, but I guess rather not than yes.
I didn't even follow the ETF news. I made a bet only once last year, I was prepared for a negative outcome, but when it happened, the server was so busy, that my sell order filled when the price was at the bottom. That's why I gave up gambling, too many random factors which you cannot control.
I rather concentrate on long-term development and intervene when there is a good occasion. I try to stay in a comfortable position, so I am fine with both directions.